The value relevance of timely information: The case of comparable store sales growth

Hong, Philip Keejae; Lee, Sam; Mynatt, Patricia G.; Ramakrishnan, Ram T. S.

doi:10.1016/j.adiac.2018.11.002

Cited by 7 publications

(6 citation statements)

References 25 publications

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“…De igual forma, se advierte una influencia positiva y significativa al 1% de la oportunidad de la información, sobre los factores clave del éxito competitivo de las cooperativas (β: 0.330, p-valor: 0.006). A partir de estos resultados, coherentes con Moll & Yigitbasioglu (2019), Siqani & Vokshi (2019), Hong et al (2019), Liao et al (2019) y Rubio & Unsal (2020), se infiere que la información oportuna posee mayor valor por parte de la gerencia en la toma de decisiones, lo cual influye en el desempeño organizacional, afectando positivamente los factores clave del éxito competitivo de las cooperativas. En consecuencia, se confirma la H 2 Asimismo, la relación causal entre la agregación de la información y los factores clave del éxito competitivo de las cooperativas es negativa y significativa al 5% (β: -0.217, p-valor: 0.039).…”

Section: Resultados Y Discusiónunclassified

Contabilidad de gestión: efecto en los factores clave del éxito competitivo en el sector cooperativo

2020

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Las cooperativas cobran cada vez más relevancia por su participación en el mercado y para ser competitivas, sus directivos deben sortear las exigencias de entornos dinámicos, tomando decisiones a partir de información extensa, ambigua y cambiante. Por otro lado, se entiende a la contabilidad de gestión como la herramienta que apoya a la gerencia en este proceso, sin embargo, en la literatura no existe claridad sobre su contribución a la competitividad. En consecuencia, el objetivo es explicar la incidencia de las dimensiones de la contabilidad de gestión en los factores clave del éxito competitivo de las cooperativas multiactivas. Para ello, se desarrolla una investigación de enfoque cuantitativo, alcance explicativo y diseño no experimental-transeccional de campo. Se aplicó un cuestionario con escala ordinal tipo Likert de seis opciones a 126 gerentes. Los resultados demuestran una influencia positiva de la amplitud, oportunidad e integración y negativa de la agregación de la información contable. Se concluye que, de manera general la contabilidad de gestión contribuye a la competitividad de las cooperativas multiactivas; sin embargo, resulta relevante la relación inversa de la agregación, la cual puede ser explicada tentativamente por la complejidad de este proceso, exigencia de tecnología especializada para tal fin y alta participación de micros y pequeñas empresas en la muestra, más sensibles a los altos costos de implementación. La implicación de estos resultados sugiere analizar la relación negativa de la agregación en los factores clave del éxito competitivo en el contexto de este estudio.

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Section: Resultados Y Discusiónunclassified

Contabilidad de gestión: efecto en los factores clave del éxito competitivo en el sector cooperativo

2020

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“…Websites are increasingly recognised as an important medium of disclosure (Khalil and O'Sullivan, 2017). Website disclosures can provide more timely release of information compared with periodic corporate report disclosures (Hong et al ., 2019). Website disclosures are largely easy to understand and, unlike corporate reports, can use different forms of disclosure, such as videos and other attractive media, to create a more targeted and stakeholder‐oriented form of communication designed to reach as broad an audience as possible (Schaper et al ., 2017).…”

Section: Findings and Discussionmentioning

confidence: 99%

Analysis of corporate social disclosures of the apparel industry following crisis: an institutional approach

Akbar

Deegan

2020

Accounting & Finance

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This study explores how the social and environmental information disclosed by organisations following a crisis is influenced by the institutional environment. Through content analysis, the study examines disclosures of apparel industry organisations after the Rana Plaza building collapse in Bangladesh. The study finds that the accountability demonstrated by global apparel buyers following a crisis is attributable to Western cultural expectations and norms, legitimacy concerns and global constituent pressures, while the limited accountability demonstrated by garment suppliers operating in a developing country occurs in response to apparel buyer pressures and business survival concerns.

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“…Van Buskirk ( 2012) notes that the level of detail in monthly sales disclosures, instead of the mere presence of this information channel, reduces the information asymmetry between informed and uninformed stock investors. Hong et al (2019) demonstrate that investors and analysts adjust their assessments of firm value in response to monthly SSS disclosures. Zhou and Yu (2023) examine the discontinuation of monthly SSS reports and find that when external parties struggle with forecasting sales revenue, the cessation of monthly SSS announcements may reduce firm value.…”

Section: Market Reaction To Sales Informationmentioning

confidence: 99%

“…First, we extend the literature on the value relevance of sales information in capital markets. Hong et al (2019) show that monthly same-store sales announcements are relevant to stock market investors and financial analysts. In our study, we view firms as interconnected entities within a larger business ecosystem, which allows us to investigate the value relevance of one firm's monthly sales disclosures to another firm.…”

Section: Introductionmentioning

confidence: 99%

Externalities of Sales Information Along the Supply Chain

Hao,

Wang

2024

JABE

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Prior studies have shown that earnings information of customer firms is value relevant to the investors of their suppliers, but it remains unclear whether sales information has similar effects. In this study, we investigate the value relevance of customer firms’ sales information to suppliers’ investors using a large sample of monthly sales disclosures from U.S. retailers. We find that within the narrow window of retailers’ monthly sales disclosures, suppliers’ abnormal stock returns are positively related to retailers’ sales growth in both same-store sales and store numbers. This finding suggests that sales information has spillover effects, or externalities, along the supply chain. We further conduct cross-sectional tests and find that the externalities of sales information vary with a supplier’s dependence on the retailer. We also develop a prediction model to separate the expected and unexpected components of retailers’ sales information and find that the unexpected component of sales growth is the primary source of externalities. Overall, this study provides new insights into the value relevance of sales disclosures.

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The value relevance of timely information: The case of comparable store sales growth

Cited by 7 publications

References 25 publications

Contabilidad de gestión: efecto en los factores clave del éxito competitivo en el sector cooperativo

Contabilidad de gestión: efecto en los factores clave del éxito competitivo en el sector cooperativo

Analysis of corporate social disclosures of the apparel industry following crisis: an institutional approach

Externalities of Sales Information Along the Supply Chain

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